Tools

Bit-Z exchange review

13 June 2018

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias.
But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Bit-Z Cryptocurrency Exchange

Bit-Z is a Hong Kong-based crypto exchange and over-the-counter (OTC) trading platform. It provides its users with access to dozens of popular digital currencies, and it offers 0.1% trading fees and the convenience of a mobile trading app.

This review contains a host of useful information about the features Bit-Z has to offer, as well as any drawbacks, to help you decide whether it’s the right crypto trading platform for your needs.

Cons

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.

What is Bit-Z?

Founded in 2016, Bit-Z is a digital asset exchange headquartered in Hong Kong. If you’re looking to buy and sell cryptocurrency, the platform allows you to trade bitcoin (BTC), Ether (ETH) and dozens of other crypto coins and tokens with 0.1% trading fees. It also offers an Android and iOS mobile trading app and a range of protective measures to help ensure the security of transactions.

In addition, Bit-Z provides an OTC trading service for users looking to buy or sell large amounts of cryptocurrency. Eight different digital assets can be traded through this part of the platform.

Which cryptocurrencies can I buy/sell?

Supported fiat currencies: None

Supported cryptocurrencies: Approximately 104 cryptocurrencies

Supported cryptocurrencies include:

BTC

ETH

XRP

EOS

LTC

XLM

TRX

NEO

DASH

ETC

QTUM

ZEC

LSK

ONT

DOGE

DGB

XIN

ARK

ELA

NULS

FCT

MCO

SPHTX

HPB

TKY

XAS

CPX

BTX

INK

DCT

CVT

OCN

RNTB

EKT

ETP

IXT

PRA

AIDOC

SS

LEO

Available countries

Bit-Z offers its platforms to users in a wide range of countries around the world, including the US. However, users in some countries are unable to use the platform, so contact Bit-Z directly to find out whether you’re legally able to access the exchange from your country of residence.

Which payment methods are accepted?

Bit-Z’s exchange platform only offers crypto-to-crypto trading, so the only way to deposit funds into your account is via cryptocurrency transfer.

However, if you’re using the OTC service, the accepted currencies are US dollars (USD), Chinese yuan (CNY) and Danish krone (DKK). The OTC platform accepts the following payment methods:

How much will it cost me to use Bit-Z?

There is no fee for depositing funds into your Bit-Z account, but charges do apply to trades and account withdrawals.

In terms of trading fees, a 0.1% fee applies to all buy and sell transactions.

Withdrawal fees vary depending on the cryptocurrency being transferred, with the fees for a selection of popular coins and tokens shown in the table below.

Currency

Withdrawal fee

Bitcoin

0.0001 BTC

Ether

0.01 ETH

Litecoin

0.01 LTC

Tether

10 USDT

Bitcoin Cash

0.0001 BCH

DKK Token

1 DKKT

Ethereum Classic

0.01 ETC

Dogecoin

20 DOGE

Zcash

0.005 ZEC

Dash

0.002 DASH

How fast will my funds be available?

The time it will take for the funds you transfer into and out of your account to become available will vary depending on network congestion and the amount of confirmations required to complete a transaction.

If transferring fiat currency to place an OTC trade, transfer times vary depending on the payment method selected.

Are there any transfer limits?

Before you can withdraw any funds from your account, you’ll need to achieve a higher verification level by providing your name, birth date and a trading password. This takes you to verification level one and a 24-hour withdrawal limit of 2 BTC.

By then providing your country of residence, address and mobile number, you can access a higher withdrawal limit.

Is Bit-Z safe to use?

As mentioned, you’ll need to complete account verification before you’re able to withdraw any funds from Bit-Z. The platform also supports two-factor authentication through Google Authenticator, providing extra security for the funds in your account.

Bit-Z claims to use bank-level SSL technology to ensure the security of transactions. You can also establish a trading password on your account. This code must be different than your login password and will need to be entered to confirm each trade.

Customer support

If you have a question about your account or a specific transaction, Bit-Z offers an online help center with answers to a number of frequently asked questions. If you can’t find what you’re looking for there, you can submit a support request through Zendesk. Bit-Z can also be contacted via email or through its official WeChat account.

Pros and cons

Pros

High trading volume

Access to a wide range of currency pairs

Supports two-factor authentication

Android and iOS mobile trading apps

Also offers OTC services for large-volume traders

Very competitive trading fees

Cons

No margin trading available

Fiat deposits not accepted

Limited information about transaction limits available online

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.

Disclosure: At the time of writing the author holds ADA, IOTA and XLM.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

We endeavor to ensure that the information on this site is current and accurate
but you should confirm any information with the product or service provider and
read the information they can provide. If you are unsure you should get independent
advice before you apply for any product or commit to any plan.

finder.com is an independent comparison platform and information service that
aims to provide you with the tools you need to make better decisions. While we
are independent, we may receive compensation from our partners for featured placement
of their products or services. We may also receive compensation if you click on
certain links posted on our site.

Thank you for your feedback.

Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.

Advertiser Disclosure

finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.